Rupee sheds 84 paisa against dollar in interbank market

ISLAMABAD (APP) - The Pakistan rupee weakened by 84 paisa against the dollar in the interbank trading on Monday and closed at Rs 281.61 against the previous day’s closing of Rs 280.77.

According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs 283.5 and Rs 286.3 respectively.

The price of the Euro increased by Rs 2.91 and closed at Rs 300.47 against the last day’s closing of Rs 297.56, according to the State Bank of Pakistan (SBP). The Japanese Yen increased by 06 paisa to close at Rs 2.11, whereas an increase of Rs 4.36 was witnessed in the exchange rate of the British Pound, which was traded at Rs 340.02 as compared to its last day’s closing of Rs 335.66.

The exchange rates of the Emirates Dirham and Saudi Riyal increased by 23 paisa each to close at Rs 76.67 and Rs 75.01 respectively.

Meanwhile, the 100-index of the Pakistan Stock Exchange (PSX) gained 62.98 points, a positive change of 0.15 per cent, closing at 41,856.85 points against 41,793.87 points the previous day.

A total of 289,274,485 shares were traded during the day as compared to 272,742,393 shares the previous day, whereas the price of shares stood at Rs 10.268 billion against Rs 6.770 billion on the last trading day.

As many as 340 companies transacted their shares in the stock market;147 of them recorded gains and 169 sustained losses, whereas the share price of 24 companies remained unchanged.

The three top-trading companies were Hascol Petrol with 42,448,000 shares at Rs 6.25 per share; Telecard Limited with 25,819,000 shares at Rs 8.00 per share and Oil and Gas Dev XD with 18,456,595 shares at Rs 93.20 per share.

Reliance Cotton witnessed a maximum increase of Rs 48.24 per share price, closing at Rs691.50, whereas the runner-up was Ismail Ind with an Rs 34.50 rise in its per share price to Rs 494.60.

Rafhan Maize witnessed a maximum decrease of Rs 249.00 per share closing at Rs 8,000.00; followed by Pak Services with Rs 140.69 decline to close at Rs 1,735.19.

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